MBA urges FHFA to consider securitization when reviewing the Federal Home Loan Bank system; Ambac’s MBS lawsuit against Countrywide goes to trial 12 years later; MISMO seeks comments on template for BWIC activity.

Angel Oak Capital Advisors and a portfolio manager with the company settled with the SEC, which alleged improper reporting of delinquencies on a fix-and-flip securitization issued by Angel Oak in 2018.

An appeals court overturned a ruling that ordered UBS to pay more than $2.5 million to a former commercial MBS research analyst. The verdict conflicts with other circuit court decisions and could end up at the Supreme Court.

Recent court rulings on litigation involving non-agency MBS issued prior to 2008 are setting new precedents, with broad ramifications.

Morningstar argues it can use undisclosed loan-specific stress adjustments for subjective reasons, including to bring the rating for a commercial MBS in line with expectations based on similar deals.

The New York Supreme Court recently ruled in favor of the plaintiff in a decade-plus-old case against Credit Suisse tied to legacy non-agency MBS.

When the pandemic struck this spring, non-QM sales in progress fell apart involving some heavy hitters like NewRez. Now those loan buyers are getting sued for reneging on their contracts.

Semper Capital has agreed to pay $375,000 to settle charges that it inflated the value of certain investments in its non-agency MBS fund.

Velocity Financial raised capital by selling stock after plans to issue MBS were disrupted by volatility from the coronavirus. Several REITs also provided updates on their financials.

A longer statute of limitation and increased disclosure requirements could help attract long-term investors in the MBS and ABS market, industry experts recommend.